Zambia and Zimbabwe have each committed $220 million in equity to revive the Batoka Gorge Hydropower Project – a $4.2 billion, 2,400 MW cross-border facility planned on the Zambezi River near Victoria Falls.

The combined $440 million commitment is designed to strengthen the project’s bankability and attract private capital. Once completed, the plant will supply 1,200 MW to each country, reinforcing national grids and contributing power to the Southern African Power Pool.

A joint council of ministers has approved the establishment of a resource-mobilization committee to secure financing for publicly owned dam infrastructure. Engineering, feasibility and environmental studies are currently underway, with financial, technical and legal advisors already appointed.

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